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REGISTERED NUMBER: 09633958 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

SABEGO LIMITED

SABEGO LIMITED (REGISTERED NUMBER: 09633958)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SABEGO LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTORS: Mr G R Hutchison
Mrs E Hutchison





REGISTERED OFFICE: KJG
100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 09633958 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

SABEGO LIMITED (REGISTERED NUMBER: 09633958)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 162 802
Investments 6 12,468 19,098
Cash at bank 1,848 1,434
14,478 21,334
CREDITORS
Amounts falling due within one year 7 (14,161 ) (14,180 )
NET CURRENT ASSETS 317 7,154
TOTAL ASSETS LESS CURRENT LIABILITIES 317 7,154

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (683 ) 6,154
SHAREHOLDERS' FUNDS 317 7,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2024 and were signed on its behalf by:




Mr G R Hutchison - Director


SABEGO LIMITED (REGISTERED NUMBER: 09633958)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Sabego Limited is a private company, limited by shares, registered in England and Wales, registration number 09633958. The address of the registered office is KJG, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The principal place of business is Highfield House, 16 Hawthorn Lane, Wimslow, Cheshire, SK9 5DD.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of value added tax and trade discounts. Turnover represents the proceeds of sale of cryptocurrency.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer Equipment-33% straight line

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

SABEGO LIMITED (REGISTERED NUMBER: 09633958)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments, which comprise cash at bank and in hand, trade and other debtors, borrowings, and trade and other creditors. The company has chosen to apply the measurement and recognition provisions of Section 11 Basic Financial Instruments.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Current asset investments
Current asset investments include tokens and cryptocurrency where there is an active market which provides information on an ongoing basis, Current asset investments are initially measured at cost. Subsequently, they are measured at fair value with gains and losses recognised directly in profit or loss. These assets are included in current assets as management may dispose of them within 12 months of the end of the reporting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2022
and 31st March 2023 3,326
DEPRECIATION
At 1st April 2022
and 31st March 2023 3,326
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

SABEGO LIMITED (REGISTERED NUMBER: 09633958)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 162 802

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other Investments 12,468 19,098

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 14,161 14,180

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, there is an amount due to Mr G Hutchison of £12,841 (2022: £12,529).